Incoming US president Donald Trump is set to release an executive order designating cryptocurrency a national priority, according to Bloomberg.
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The order would see crypto elevated to a policy priority and help ensure government agencies work with the sector, says Bloomberg, citing sources.
The executive order could include a directive for all government agencies to review crypto policies and put a pause on any litigation involving crypto.
Facing a slew of SEC enforcement actions and fraud cases such as the FTX saga, the crypto industry has set its sights on Washington, with firms such as Coinbase and Ripple donating huge sums to a super political action committee backing pro-crypto candidates during the 2024 US elections.
Both Ripple and Coinbase have also donated to Trumpโs inaugural committee, with an โInaugural Crypto Ballโ set for Friday evening ahead of Monday’s inauguration.
Trump’s election win in November, saw Bitcoin’s price surge, passing the $100,000 mark for the first time in December as retail and institutional investors bet on the incoming president introducing a more supportive regulatory regime for cryptocurrency.
He has already moved to bring in former PayPal chief operating officer and crypto booster David Sacks as “White House AI and Crypto Czar“.
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